Ascena Retail Group, the owner of the Ann Taylor and Lane Bryant apparel chains, is discussing a potential bankruptcy filing with lenders after its business was thrown into disarray by the Covid-19 pandemic, according to people with knowledge of the matter. The Chapter 11 filing, which could come as soon as July, would allow the company to keep some of […]

SINGAPORE – Singapore’s retail sales in April suffered their biggest drop since 1985 when records began as circuit breaker measures to fight the cornavirus pandemic kicked in. Takings at the till plunged by 40.5 per cent year on year, according to data out by the Department of Statistics on Friday (June 5). Excluding motor vehicles, retail sales fell 32.8 per […]

SINGAPORE – Some 20 to 30 per cent of “mom and pop” shops may go belly up in four to six weeks if they have to continue to stay shuttered. President of the Federation of Merchants’ Associations, Singapore (FMAS) Yeo Hiang Meng has called for the Government to allow these heartland enterprises to resume business in two weeks, among other […]

The volume of retail sales in April fell by a record 18.1%, according to the Office for National Statistics. It follows the 5.2% fall in March, which was a record at the time and came as many UK retail businesses were forced to shut down due to government measures to limit the spread of the coronavirus. Among the sectors to […]

Last year, Walmart Inc. and Kroger Co. asked workers to gently encourage gun-carrying customers to leave their firearms outside. The ill-defined policies put employees in a difficult, even dangerous position, thrusting them onto the front lines of a contentious national debate. Now it’s happening again. This time the issue is shoppers wearing masks inside grocery stores. While many retail chains […]

Pier 1 Imports Inc. said it would seek bankruptcy court approval to wind down its retail operations after the coronavirus pandemic made it difficult for the U.S. retailer to find a buyer. The company said in a statement Tuesday it intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised process. Pier […]

The National Retail Federation’s Chief Economist Jack Kleinhenz believes the economic recovery in the United States from the Coronavirus crisis would come gradually and may vary by location depending on the severity. His remark comes as more and more stores are reopening across the country after at least 30 U.S. states began easing lockdown restrictions and decided to reopen businesses […]

Empty shopping malls in California and idled oil fields in Texas paint a dire picture for the American economy. The reality is more complex, as evidenced by the closely held firms that will play a decisive role in dictating the size and timing of any recovery. Bloomberg interviewed four billionaire owners of family-owned companies in real estate, oil, media and […]

Reflecting the impact of the coronavirus-induced shutdown, the Commerce Department released a report on Wednesday showing a record decline in U.S. retail sales in the month of March. The Commerce Department said retail sales plummeted by 8.7 percent in March after falling by a revised 0.4 percent in February. Economists had expected retail sales to plunge by 8.0 percent compared […]

NEW YORK/LOS ANGELES (Reuters) – With supermarkets stripped of food and many other essentials, consumer product companies halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand. Brick-and-mortar retailers have warned that hoarding toilet paper, cleaning supplies and food staples was fueling shortages. Amazon.com (AMZN.O), […]